President Obama had some interesting things to say on his weekly radio and internet address. The transcript can be found here at whitehouse.gov.
But right now, that’s not the case. Instead of doing what’s right for middle class families and small business owners, Republicans in Congress are holding these tax cuts hostage until we extend tax cuts for the wealthiest Americans.
You see, Republicans in Congress and their nominee for President believe that the best way to create prosperity in America is to let it trickle down from the top. They believe that if our country spends trillions more on tax cuts for the wealthy, we’ll somehow create jobs – even if we have to pay for it by gutting things like education and training and by raising middle-class taxes.
I guess President Obama’s idea on how to grow the economy is to take more money from the people who create the jobs and give it to the government to spend on stimulus projects that reward his supporters. No wonder the economy is heading back in to a recession.
But note that tax cuts are considered to be spending more. It is as if Obama believes that the government owns everything and any income left over after taxes is a gift. Well, that is not too surprising. I think that politicians of both parties believe that.
They’re wrong. And I know they’re wrong because we already tried it that way for most of the last decade. It didn’t work. We’re still paying for trillions of dollars in tax cuts that benefitted the wealthiest Americans more than anyone else; tax cuts that didn’t lead to the middle class jobs or higher wages we were promised and that helped take us from record surpluses to record deficits.
He has a lot of nerve talking about record deficits. I will concede the Republicans were responsible for a good portion of the deficits during the Bush years, but this was more the result of their abandoning their principles and going on a wild spending spree than the tax cuts. But Bush’s deficits are dwarfed by Obama’s.
And if Obama really wants the economy to grow and more jobs to be created, than maybe he should stop disparaging the people who can make it happen.
- Obama urges middle-class tax cut, draws contrast with GOP aiding the wealthy (dailykos.com)
- Obama: Don’t hold economy ‘hostage’ (upi.com)